The Innovation Excellence website noted that we hear a lot these days about applying open innovation concepts to improving innovation concepts and product development processes. Companies that sell directly to end consumers–business to consumer (B2C)–see clear uses examples and value for open innovation. But the challenges and circumstances of companies that sell primarily sell to other companies–also known as business to business (B2B)–are different, and these open innovation concepts are not so easily applied. Despite the challenges, the open innovation payoff for B2B companies is significant, especially in today’s resource-constrained R&D environments.
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